Topic: I'm Out (Read 8663 times)

lmao

yes moral hazard was thrown out the window.. you can see the haves and have nots in the industries that can tap into government spending of these printed dollars while the regular private sectors circle the drain on the stalled economy

and on top of that the ones that can grab the ZIRP free money loans pushed that hot money into anything with high risk high reward since servicing the debt is meaningless (long timeline for the gamble)

with high interest rates, one has to get quicker returns on their gambles

   metals are risky- a new technology could find a way to turn coal into gold or silver and value would plummet overnight.

  I know bitcoin is risky too but hopefully you sold to someone who believes in bitcoin and will use it for good.

Good move but why silver?

Warehouse better investment , next bubble is in warehouses

Yes, I completely agree with you.

What really matters is M3 supply. It was the rapid M3 growth we had prior to the meltdown that caused price inflation.

What we are seeing today is M0 supply simply "catching up" to prior M3 credit growth. Essentially as everyone leveraged themselves the M3 to M0 ratio was stretched too thin, and there are only two solutions:

1) The market is forced to reduce leverage back normal levels through defaults. This brings prices back down to what they were before the unsustainable credit growth started. This has the effect of punishing those who took bad risks and also rewards those who were prudent and saved.

2) The government reduces leverage back to normal levels by printing M0 to bring it back in line with elevated M3. This causes prices to stay where they are while the real economy reduces. This has the effect of punishing those who were prudent and saved while rewarding those who took bad risks.

This is why printing M0 is bad. It is not that inflation will happen (because it already has). Printing M0 to "fix" things is bad because it rewards the wrong behavior while punishing the right behavior.

Sounds like JP Morgan new product presentation ... wow what a meeting ... now serious that's why I support any educational book about bitcoin ecosystem from the core protocol, to pools concepts from cryptology to economy it could have a entire textbooks series ...

Well most people who were in bitcoin from the start (<20$ dollar prices) will have sold a big part of their coins during the peaks.

So you're actually advocating that everyone who bought the majority of their bitcoin at $5 should now sell it all at ~$450 and not keep even a tiny fraction of it just to keep an interest?

Personally I couldn't do it, I need to retain at least a small amount to feel I am part of it. I was willing to sacrifice a small amount of a larger profit for that.

Or is it the buying back lower bit that you disagree with?

Yup and the only reason we are still driving round in ICE cars is that the big businesses pretty much stamp out any attempt to use the better technology. In the early 1900's there were more electric cars on the road then ICE cars.

As a person who bought around $5 and then sold a fair chunk the day after $1200 Im sure the OP has his fair share of wealth. Nobody knows his age or other circumstances so its impossible to really see it from OP perspective. If hes a young 20 something then I would probably say fuck it don't sell at low $400's not after riding the waves already and making a tidy profit. However if OP is later in life with dependents then depending on the amount of wealth bitcoin has given him then he could live out the rest of his life very comfortably and not leave his dependents with a volatile beta experiment to deal with...

the history of technology shows that not always the best technology finds its way to mass adoption. we are still driving around in cars with combustion engines invented 2 centuries ago.

BS, the whole post you made are 100% wrong. Typical guy who thinks that he missed the train.

http://finance.yahoo.com/blogs/daily-ticker/does-bitcoin-have-a-future--marc-andreessen-thinks-so-141613056.html


Where there is millions of $, then there are developers.

More ass talk.

Bitcoin is just proof-of-concept.  We're already seen better tech, with better options coming online.  Over the next 5 years, we'll continue to see an explosion of next gen. cryptocurrency options that will put the blockchain to shame.  That's just the way technology goes and since Bitcoin doesn't have enough developers dedicated to the core, there's no way Bitcoin is going to be able to keep up.  People are too busy making money off Bitcoin to care about the core.

Try compare with bank wires for moving money around...

"Papercoin" could be built on top of bitcoin. Like if bitcoin is gold, the "papercoin" - is like paper money. "Papercoin" transactions could be fast and insured at bitcoin exchanges, etc.

It is very hard to say but I respect your decision even If don't fully agree with selling all the coins you got.  Who knows it could be a great call or maybe not time will tell either way I like that you got alot of silver and hope it works out for you one way or another.

That's our exact thoughts at coinpal.net, and thats why with our exchange when we launch we will be dedicating a lot of time to trying to get 'your average Joe' in to crypto-trading. It's easier said than done but I believe with the exchange we have to offer and all it's speciality add ons as well as our skilled team, we can certainly try to help with mass awareness of the crypto currency.

I am with you Info... BTC is great and all but it isn't the be-all end all for using to make purchases.

People want believe that BTC is "great" for merchant due to no charge backs etc... but these same features make it difficult for consumers to use AND it makes theft/scams even easier.  What will happen is the credit card companies (or something similar) will start to process and insure BTC transactions so they can be instantaneous just like CC purchases.  Guess what will happen?  Similar fees just like CC transaction will be charged, hopefully a bit less though.

Good for large purchases?  Yeah I can see that, faster and less expensive then wire transfers, mailing a check... a check?... no one uses those but that is basically what a BTC is, just a bit faster and with the times.

To those that think using BTC will "save them time" shopping online and relieving the difficult job of remembering accounts... is honestly just silly.  I have made purchases at sites where you don't have to create an account and guess what... the only extra info you need to give them is a password.  They have to collect all the info anyways, like where to ship, email for updates notifications etc.  I suppose if you were purchase digital or non-deliverable items it could save typing your name and address (oh the horror).

As I said what will happen with BTC and normal buying is the same thing that is happening with CC/banks, people will have apps on their phone and will scan codes/bump etc to transfer funds.  It will be cheaper until either the Feds get to regulating or the big corps come in like the CC companies and decide they should charge the same they always have.